QNB earnings decline

Monday

QNB Corp. saw second-quarter earnings slide as the result of the still-sluggish economy and costs related to opening two new branches.

The Quakertown-based bank reported earnings of $1,894,000, or 58 cents per share, compared to $2,505,000, or 78 cents per share, during the same period a year ago.

“Our second-quarter results reflect the continued sluggish economy, and continued pressure on margins," president and CEO David W. Freeman said in a statement. "The sharp increase in long-term interest rates toward the end of the second quarter negatively impacted our residential mortgage business.”

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